Predicting Hotel Booking Cancellations Using Machine Learning
2020, Jun 14
Business Problem
Booking cancellations are undoubtedly one the biggest headaches of any revenue manager or hotel manager nowadays. If we look in to the data available of the European market we see that in 2018 49.8% of bookings reserved on the OTA Booking.com were cancelled.
Model Results
In this article we saw that we can predict reservations that will cancel with a confidence of:
Accuracy - 90% Precision - 88% Recall - 84%
This was original posted on my LinkedIn profile and you can find the full post HERE
There is also a version of this article in Spanish translated by Jaime Chicheri HERE